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Consequences of Bank Distress During the Great Depression

Charles W. Calomiris; Joseph R. Mason

Title:
Consequences of Bank Distress During the Great Depression
Author(s):
Calomiris, Charles W.
Mason, Joseph R.
Date:
Type:
Articles
Department:
Business
Volume:
93
Persistent URL:
Book/Journal Title:
American Economic Review
Abstract:
The consequences of bank distress for the economy during the Depression remain an area of unresolved controversy. Since John M. Keynes (1931) and Irving Fisher (1933), macroeconomists have argued that bank distress magnified the extent of the economic decline during the Depression. As the intermediaries controlling money and credit, banks were in a special position to transmit their distress to other sectors. But the mechanism through which banking distress mattered for the economy has been hotly contested.
Subject(s):
Economic history
Banking
Publisher DOI:
10.1257/000282803322157188
Item views
243
Metadata:
text | xml
Suggested Citation:
Charles W. Calomiris, Joseph R. Mason, 2003, Consequences of Bank Distress During the Great Depression, Columbia University Academic Commons, http://hdl.handle.net/10022/AC:P:10879.

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